Sovereign Share Discussion Threads

[squiresquire] 20/1/2017 15:36

These are our main movers in Sovereign Mines of Africa.



Giles Clarke began his career as an investment banker with Credit Suisse First Boston. In 1981 he bought from receivership the assets of what was to become Majestic Wine, where, as chairman, he built it into a UK national chain. From August 1987 to May 1988, Clarke was chairman of Majestic Wine Corporation Inc, a United States company which owned a chain of 104 stores trading as Liquor Barn in California and Arizona. Following disposal of the US based businesses, he sold the UK plc business of Majestic Wines for £15 million in 1989.

In 1990, Clarke founded Pet City, where, as CEO, he built it into a chain of 94 stores (also dressing up at Xmas in the Swindon Store). After making the business public in 1995, he sold the business for £150 million in 1996 to US based PetsMart. In 1998, Clarke founded Safestore, building it into the UK's third largest self storage company, selling it to Bridgepoint Capital for £44million in August 2003. In 1999 Mr Clarke became CEO of Stepstone, an online career portal. Since he came on board, the company has raised NKr1.8bn ($197m) from the IPO in 2000 and grew from four countries and 200 employees to a staff of 1,385 in 18 countries.

Clarke then became Chairman of the Cricket Board, got his CBE and also the following:

2002–2007 As a National Council member of the Learning and Skills Council, the largest quango in the UK with a budget of £10 billion, responsible for all UK adult learning and a member of the Adult Learning Committee, a statutory body set up by the UK Parliament.
Clarke was Deputy Chair of the EU Task Force on Skills and Mobility and presented its report to the Barcelona Summit in 2002.
Deputy Chairman of the Bristol Old Vic theatre until 2007.
Patron of Changing Faces, the UK national charity supporting and representing people with disfigurement.
Master of the Society of Merchant Venturers, Bristol (2011)


Jeremy Sparrow was bought in by Clarke to SMA and along with Clarke invested as follows:

Giles Clarke as Chairman and Rupert Fraser as a non-executive Director of the Company with effect from completion of the Subscription (as defined below). In addition, the Company has raised GBP500,000 through a subscription of 500,000,000 new ordinary shares of 0.01 pence each in the Company ("Ordinary Shares") at a price of 0.1p each (the "Subscription"). Giles Clarke and Rupert Fraser have invested GBP100,000 and GBP125,000, respectively, in the Subscription alongside existing and new shareholders, including existing director Nathan Steinberg.

Nathan Steinberg was an existing director.

Mr. Jeremy Sparrow was a Managing Director at Investec and ran the Asian (including Australian) resource investment banking businesses. A highly distinguished investment and financing professional, Mr. Sparrow possesses over 25 years of extensive deal-making experience across multiple geographies and has led equity teams that have raised a combined total of over $23bn.

Prior to Investec, Jeremy spent 12 years with Renaissance Capital, as a Managing Director heading up Equity Products in New York and the UK before becoming the CEO of Renaissance Capital Asia, where he established the company's first Asian offices in Beijing and Hong Kong.

Notice Jeremy Sparrows interest in Hong Kong.

Now, today, we learn we have a CEO, his background is also Hong Kong as follows:

Rupert (48) is a former Officer in the British Army and is a highly experienced investment and frontier markets operator having run businesses for over 26 years across multiple geographies, with particular experience in Asia, Hong Kong and China. Throughout his career, Rupert has served as CEO across a range of companies, successfully building and growing Ptarmigan Eden Asset Management, a private Special Situations Company with significant experience in execution across global exchanges, private equity and venture capital investments supported by Credit Lyonnais Europe and UBS, a global commodities trading company and most recently Eugen de Buren, a resource focused Asia centric PE and Public Markets team, advising international resource companies and both regional and global PE equity funds.

At this stage its clear Clarke has something up his sleeve and has deliberately bought in people with very substantial connections / careers in Hong Kong / Asia.

[squiresquire] 20/1/2017 12:45

Lung

We may be in with some decent news flow since these types of change are often consequential in that the next step cannot be enacted until the previous one has been completed. So this may now release the next agreement sooner rather than later. And Clarke has been in Africa dealing with his other rather meteoric success story.

[thelung] 20/1/2017 12:34

Fingers crossed, it's pure punt money but should come good all the same

[squiresquire] 20/1/2017 12:27

Clarkes away, brilliant, with this team he has now it could be a right cracker

[thelung] 20/1/2017 12:26

There's the confirmation.

I feel they should have reiterated the 7/11 RNS comments from Giles and told us something regarding the progress of the potential acquisition. Hopefully that's because it's close and finalisation has been triggered by concluding the Mandiana farm out, but as a minimum they should have confirmed that it is all on track.

_____________________________________

7/11 RNS

Potential Acquisition

The Company has entered into an exclusivity agreement to acquire new assets in the mining industry, and is carrying out detailed due diligence on these. Further announcements will be made in due course.

Giles Clarke, Chairman of Sovereign Mines of Africa said:

"This is an important step for the Company and realizes immediate value for shareholders whilst retaining an interest in the future of the Mandiana Gold Project. The Company is in a transitional period whilst we execute our new vision following a detailed strategic review which includes a potential acquisition within the mining industry. We look forward to updating our shareholders further on these activities in due course."

[thelung] 19/1/2017 21:20

hxxps://www.juniorminingnetwork.com/junior-miner-news/press-releases/2051-tsx-venture/vg/28461-volcanic-gold-mines-completes-acquisition-of-mandiana-gold-project-in-guinea.html

[charles clore] 12/1/2017 10:36

Could well be worth adding at this crazy price as news should be close imho!

[soulsauce] 11/1/2017 13:40

I doubt it has gone pear shaped Georgia or the company would be forced to make a statement. However I did say at the time, IF they are dealing with the Chinese then progress can be glacial.
That said there is nothing to stop the BoD updating the market.

[georgia1972] 11/1/2017 13:31

Nearly back down where I first boughtMy average .56 Hindsight millionaire !!!!They said news wasn't imminent in November, so why would anyone sell, I wish I had and then re bought at this level The board has a lot to answer too Or has the reverse gone pearshaped !!!

[soulsauce] 11/1/2017 13:12

The annoying thing is that they have not updated the market for so long.

[thelung] 11/1/2017 11:52

Suprised they haven't actually completed the farm out yet

[georgia1972] 11/1/2017 11:46

Falling again ????

[an1mal] 04/1/2017 11:44

Still holding here but question myself most days. The sticking point for me is where upside can come from? We don't have any tangible assets apart from a bit of cash and 10% of an unproven asset, and an AIM listing (whoopty do). Is it not better to await the news and get in on the inevitable fundraising? I don't know, which is why I ask.

[georgia1972] 04/1/2017 09:56

Yeh I did last 2

[varrirob] 04/1/2017 09:44

Agreed as one of them was a small one I did first thing with some divi that I had hanging around.

[georgia1972] 04/1/2017 09:36

All 3 trades are buys

[squiresquire] 02/1/2017 16:48

The Company has entered into an exclusivity agreement to acquire new assets in the mining industry, and is carrying out detailed due diligence on these.

[tommygriff] 02/1/2017 14:34

Do we think this company will still focus on gold albeit another mine / asset?

[georgia1972] 30/12/2016 09:49

That last trade was my one Just to let you all know it was a buy not a sale Bloody mms

[sabre6] 23/12/2016 14:24

Charles
Doctors do and Hospitals

[charles clore] 22/12/2016 21:44

Gawd blimey - some people just have no patience!

[georgia1972] 22/12/2016 20:10

Who would sell if there negative on what they bought we were told there was imminent news !!!!We have been strung along and in a position where we cannot sell and just hopefully wait for news !!!!!!

[sabre6] 22/12/2016 15:21

uNKwn
There is nothing to stop you selling now

[gaddy88] 13/12/2016 09:17

Last news was in early November and was hardly a rocket that lit the world alight. Looks like this one will gather dust until the new year. Maybe spring 2017 may inject some new life into this company. GLA.